Alpine Mountain to Continue Operating

Alpine Mountain in Pennsylvania was sold at auction on September 18, 2013 to a strategic purchaser who plans to operate the ski resort.  Auctioneer Renaissance Auction Group, of Reading, Penn., confirmed that “The successful bidder is a local investor who plans to continue operating the facility as a family oriented ski and tubing area. Everyone involved is gratified to know that Alpine Mountain will continue to contribute to the economic and recreational diversity of Monroe County and the surrounding area.”  The Poconos resort maintains a 500 vertical-foot ski hill with three chairlifts and two rope tows, 103 acres of ski runs, base lodge with restaurant facility, maintenance building, snowmaking equipment, groomers, a ski patrol building, tubing hill and other ski area equipment.  The purchase price was not disclosed

Hidden Valley on the Auction Block

Hidden Valley ski resport in Vernon, NJ is set ot be auctioned off in a state court liquidation proceeding at 11 a.m. on Tuesday, Oct. 1 at the ski area.  The auction includes the lodge, bar/restaurant with liquor license, rental and maintenance facilities, along with all furniture, fixtures, equipment, trade names, goodwill and other rights. Hidden Valley has 12 trails and 4 lifts on a 620-foot vertical drop.  The resort was previously sold at auction in 2007 to HV Real Estate Holding for $3 million. The successful bid at auction will be subject to court approval.

Capital Expenditure to Start at Greek Peak Now that Chp. 11 is Behind Them

When John Meier and Marc Stemerman purchased Greek Peak at a bankruptcy auction in March 2013 for $7.5 million, they promised to upgrade the resort and cotinue its long-time run in Virgil, NY.  Keeping their word, they are investing $4 million into the central New York ski and snowboard resort installing its first high-speed quad chairlift which expected to come on line in time for the Dec. 14 opening.  Work will also be done to renovate the resort’s lodge to provide an updated bar and restaurant with floor-to-ceiling windows facing the mountain, combined with a three-tier heated outdoor deck.  With new snowmaking equipment and groomers, the snow surface will will be improved as well.